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Newcastle Building Society launches fixed-rate mortgage

08 November 2005
Newcastle Building Society has launched a new ten-year fixed-rate mortgage aimed at giving customers a competitive rate protected from interest rate changes.

The new mortgage is ideal for first-time buyers and re-mortgagers, claims the building society - giving homeowners a rate of 4.75 per cent which is fully protected against sudden rises in interest rates until 2016.

Steve Urwin from Newcastle Building Society said the mortgage offers the "best rate available".

He said: "Interest rates are still relatively low but there is no guarantee they will remain so.

"A long term fixed rate mortgage offers additional security and allows for stable financial planning."

The mortgage is available from any of the building society's branches or by logging onto the website.

Figures from Halifax revealed this month that the number of mortgages being approved is rising.

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